Channel 4 is set to slash its workforce by 28 percent — approximately 340 roles — by the end of the year, as the U.K. broadcaster unveils a “long-term transformation strategy.”
On Wednesday, CEO Priya Dogra shared proposals for a new organizational design in a bid to “create a simpler, more focused organization that directs a greater proportion of its revenues towards distinctive British content.”
This will help Channel 4 “own our future,” as the cash-strapped public service broadcasters fight to stay afloat amid an oversaturated market in which the streamers and YouTube dominate. A comprehensive review at Channel 4 began earlier this year, taking place against the backdrop of a “rapidly changing media landscape, including evolving audience habits, increasing global competition, a challenging consumer environment and a volatile advertising market,” the company said.
Dogra said on Wednesday: “Today marks the first phase of our transformation, ensuring Channel 4 is the right shape and size to deliver its future strategy and focus investment in the programs audiences love.”
“The challenges we face require a fundamental transformation in how we work,” she continued, acknowledging that the proposals will be “very difficult for many colleagues” and will have “a significant impact” on the company. “Many talented people who have made an enormous contribution to Channel 4 will be leaving as a result.”
She added: “These decisions have not been taken lightly, but I strongly believe they are necessary to create a simpler, more focused and more sustainable Channel 4 that can invest a greater proportion of revenues into distinctive content, back British creativity and deliver impact for audiences long into the future.”
The broadcaster will reshape how it reaches audiences through distribution, partnerships and platforms, aiming to enable greater investment in distinctive programmes that set Channel 4 apart and ensure resources are allocated to “maximise long-term value, sustainability and public impact.”
Channel 4 will begin a formal consultation process with affected employees in due course.
“Channel 4 has a long history of challenging convention, backing creativity and evolving alongside audiences,” said Channel 4 chair Geoff Cooper. “That ability to adapt while remaining true to its purpose is one of its greatest strengths.”
He added: “The proposals announced today are intended to secure Channel 4’s future as a trusted, independent British broadcaster. By taking action now, it can build a more sustainable and resilient organization, maximize investment in content and strengthen its ability to deliver public value for audiences, the creative industries and the U.K. for the years ahead.”
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